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to debt ceiling. unless we pass the bill, the government can't have more money to spend. they got to agree to budget cuts as part of that and continued resolution. unless the house of representatives votes for continuing resolution for the budget to keep going, unless that happens, they are not going to be able to make additional payments, and so we have tremendous leverage to hold spending down. charles: disagree a thousand percent on the debt ceiling. i don't think republicans played the public relations game well, and if that goes over, they take 1,000% of the blame, and i don't think they have the stomach for that. it might be where they want to make a stand. what's the stand ultimately, no matter what course they use, what does the stand ultimately look like? what do they ask for? what do they get? >> boehner made the point we don't have to give the president's a year east worth of debt ceiling, but a month's worth. we can keep him on a short leash, and the continuing resolution, that's shorter. what we did two years ago, 20 # 11, was to let the president have budgeting authoritying f
to drive the u.s. economy to the brink of default, to not pay your bills. because we know the debt ceiling is about paying bills on things that were already spent. so i think public opinion is going to be a huge leverage. and i think the business community is going to add to that. >> okay. so i know you brought your crystal ball with you. >> i do. >> well, is this going to be another 11th hour or as i said earlier 11th hour 59 minute drag out fight? or do you think the wiser calmer saner heads are going to prevail this time around? are we going to default on our obligations around february 15th as one study in the "washington post" suggests? >> well, i don't think that we will default. but i wish i could tell you when i get back there next week we're going to raise the debt ceiling and it will all go away. i'm sure it's going to be at the 11th hour. and the reason why i say that is because look what happened when speaker boehner was trying to be re-elected for speaker again. the way his own members of his caucus defected and the turmoil that exists right now within the republican caucus. i
also said, perry, he won't even talk about the debt ceiling. won't negotiate over paying bills that, you know, money we've already spent. so when do they start talking? and what do they start talking about? if the lines in the sand are being drawn this way. >> this is how negotiations start. we're not going to talk about this. we're not going to talk about this. the reality is the president is going to talk about spending cuts. we can call it negotiating or what have you. he's going to have some spending cuts in exchange for the debt ceiling going up. and the president even before the last deal was signed had a big speech the republicans criticized in which he over and over again said i'm going to push for tax increases as part of any revenue -- as any part of any deficit reduction agreement. so you're going to have some deductions or some kind of tax increase. you're going to have spending cuts. we're in the posturing stage right now. >> a tax code overhaul? dare we even say that phrase? >> within two months, no chance. >> the tax code is being gradually overhauled, yes. i don't kn
said he wants to make it clear that raising the debt ceiling will not raise -- he warned that if congressional republicans fail to approve legislation to pay america's bills on time, everything from social security checks to veterans benefits could be delayed. >> last time they flirted with this delay our aaa credit rating was downgraded. our business have created the fewest jobs of any month in the past three years. and ironically the whole fiasco actually haded to the deaf -- actually added to the deficit. >> reporter: president obama is reviewing a list of proposals from joe biden about how to reduce gun violence. the two met earlier today to go over the vice president's recommendations over how to tighten tougher gun laws. among the proposals under consideration are a ban on assault weapons and high capacity ammunition clips. here in the bay area gun buy back is scheduled for tomorrow in marin city. the event offers gun owners $200 to turn in their semi automat weapons. and $100 for other guns. the guns can be brought to police stations in novato, san rafael, and poin
for it. >> congress has about two months to fix the debt ceiling before the u.s. may have to default on some bills. >> how is that tough talk going over with republicans? >> not very well. >> republicans who agreed for the president's push for higher taxes during the fiscal cliff battle, now want to tackle spending and raising the debt limit as part of the spending problem. we want more bipartisan negotiations and less campaigning. >> and it looks like the second term of barack obama is going to be an in-your-face term. i'm not going to talk about the debt ceiling. we have yet to cut one dime from the last debt ceiling agreement and now here it's time. we've got to stop the madness. >> democratic congressman says it's quote, reckless and irresponsible not to pay bills that are due. >> molly henneberg, thank you. after decades of service to our country, this former general could be found in civilian clothes, not necessarily by choice. general stanley mcchrystal talking about what cut his career short and the man who become the 37th u.s. president was born in a house. the richard nixon
. >> key democrats and say the debt ceiling and the tax cuts are unrelated. >> not going to say i'm not going to pay my bills unless you stop buying stuff. so stop buying stuff so you don't have future bills but right now we have to pea the bell for what we incur. i you want to tie it to what we do next, fine. >> the big part of the budget is getting people back to work. >> president obama has said he will not negotiate with congress on whether they should pay their bills. some republicans are now criticizing his fiscal leadership. >> what is really disappointing to me is that the president isn't generating a discussion on his own help has to be dragged kicking and screaming to the table when he have these other big issues like the debt ceiling to get him to talk about it. i wish he would lead. >> after nancy pelosi appeared on national tv it was off to her annual happy new year's celebration in san francisco. she was greeted with a roar of applause at the presidio. the meeting answers the delance si street foundation. considered the country's leading residential self-help organiz
so long as that bill also does away with the debt ceiling. that seems fair, you get rid of one dumb thing and get rid of another. so i should probably now give you my strong, stirring, totally difinitive conclusion, but i'm kind of torn. if obama proposes to mint the coin, then the issue will immediately cease to be the republican's dangerous and irresponsible and really historically unprecedented threats to breach the debt ceiling. and it will instead become obama's threat to mint a trillion dollar coin which will strike many as not a republican-like way out of our problems. there is a big part of me that agrees with barney frank, saying that one way another, finish it forever. the platinum coin just muddies it up. on the other hand, busting through the debt ceiling would be time. it is time to admit that america is a bit of a ludicrous banana
a linkage between their willingness to raise the debt ceiling and their desire to get their way on the budget. the reason why is that there is -- it's -- the debt ceiling is not about authrising spending. it's about paying bills. to the extent they want to send us over the cliff, last time they did it, we had our first credit downgrade. it's going to cost us $90,000,000,000 interest payments. we do it again, credit downgrade and the president is not going to play the game. they send us into default. the power to do that is the power to destroy. the power, they have the restraint not to. if we increase the cost of debt service for taxpayers 1%, that's a $1 trillion additional expense over 10 years. this is just not to rabble. >> i know the people of vermont that are listen this morning watching in on current tv should be very very proud. congressman welch, you are tryingdor something about it. one thing, you have entered into two resolutions. one that would get -- they would cut the strings that the republicans want to attach to the debt ceiling. w
to be badly wrong. that is just part of the business but we shouldn't flirt with the debt ceiling at all. to run up against the debt ceiling is to effectively send a default signal to the rest of the world. there is lot of talk you could pay some bills and not others but in effect you could pay interest and social security and things like that, but you couldn't pay the troops. you couldn't pay for roads, bridges, basic research, education. simply nothing to flirt with. you would either scare the international community to death or deprive people of basic services. we should have an agreement. that we shouldn't do anything but raise the debt ceiling. we should have an agreement we should fix the spending problem. what we don't have agreement is how. they ought to get start on that right away. melissa: speaking how to do that, evan, you're someone in the trenches so many times and got frustrated with the process. what do you think of what's going on right now? >> i don't think much about it, melissa. shows the deep political dysfunction we have at the heart of congress right now or at the
for average folks out there that needs to be. raising the debt ceiling is authorizing congress to pay the bills it has racked up. this is not about future spending. this is about you going to the store and charging some goods on your credit card. you pay the bill. the byner states has always paid its bills. congress has the responsibility and authority to do that. the president will not negotiate over it. let me go to reuters. jack lew was [inaudible] he worked for a group [inaudible] what that not raise flags for any treasury secretary? >> you are trying get me to about an announcement the president has not made. i will leave it to the president to announce his next treasury secretary. his record has and continues to be stellar. he is that rare person in washington has been here for years, who has done some very hard things and brokered some serious bipartisan agreements and then it in a way that has earned the admiration of almost everyone he has worked with. the presidents he observed. >> -- he has worked with. >> the president is meeting with the national rifle association later t
the debt ceiling. treasury officials say it's illegal to mint a coin for a purpose like that. >>> he's considered one of the greatest cyclists of all-time but hanging over his head are charges of doping to achieve that success. well now lance armstrong may be coming clean about drug use during his tour de france races. abc news reporter mark greenblat has the latest. >> in his last interview with oprah nearly two years ago, lance armstrong got a hero's welcome. now disgraced and labeled as a cheater, he will face a much tougher audience when he sits with her again. but if, as expected, armstrong confesses to doping, it would likely come only after the statute of limitations on perjury charges ran out. following this strong denial under oath. >> i just want to make sure your testimony is clear. if it cannot be any clearer that i've never taken drugs. >> still an about-face could land hem in serious hot water. he's still facing an ongoing federal whistle blower's suit that's tightly under seal and another investigation from a british newspaper and from a promoter that wants $7.5 millio
to raise the debt ceiling. treasury officials say it's illegal to mint a coin for a purpose like that. >>> he's considered one of the greatest cyclists of all-time but hanging over his head are charges of doping to achieve that success. now lance armstrong may be coming clean about drug use during his tour de france races. abc news reporter mark greenblat has the latest. >> in his last interview with oprah nearly two years ago, lance armstrong got a hero's welcome. now disgraced and labeled as a cheater, he will face a much tougher audience when he sits with her again. but if, as expected, armstrong confesses to doping, it would likely come only after the statute of limitations on perjury charges ran out. following this strong denial under oath. >> i just want to make sure your testimony is clear. if it can't be any clearer that i've never taken drugs. >> still an about-face could land hem in serious hot water. he's still facing an ongoing federal whistle blower's suit that's tightly under seal and another suit from a british newspaper and from a promoter that wants $7.5 million off.
with the debt ceiling. here is some of what he had to say. >> raising the debt ceiling does not authorize more spending. it simply allows the country to pay for spending that congress has already committed to. if congressional republicans refuse to pay america's bills on time, social security checks and veterans' benefits will be delayed. we might not be able to pay our troops or honor our contracts with small business owners. markets could go haywire, interest rates would spike for anybody who borrows money, every homeowner with a mortgage. it would be a self-inflicted wound on the economy. so to even entertain the idea of this happening, of the united states of america not paying its bills, is irresponsible. it's absurd. >> well, the president has got to get past the debt ceiling in order to achieve his second term agenda, but how does he do it when some republicans are threatening shutdown? chuck todd and howard fineman. chuck, you know, i get the sense i was listening to the late general schwarzkopf, the man shaping the battlefield. he's basically saying if this government gets shut down a
bills, is irresponsible. it's absurd. >> well, the president hass got to get past the debt ceiling in order to achieve his second term agenda but how does he do it when some republicans are threatening shutdown. chuck todd and howard fineman. chuck, you know, i get the sense i was listening to the late general schwarzkopf, the man shaping the battlefield. he's basically saying if this government gets shut down and we're not paying our bills, it's a decision by the republican-led house of representatives. he wants the story played that way. will the press or can it objectively say that if the government shuts down it's the republicans, simply their doing? >> when it comes to debt creeling if we -- there's two separate questions here. one -- and there's two separate ideas of is there something to negotiate. one is debt ceiling and what the president is saying there's no discussion on that. on the government shutdown, there seems to be a different tone from the president. i'll get to that in a minute but on debt ceiling, you're absolutely right. when you take that sentence, what he wa
a budget in three years. >> the debt ceiling is about spending that has already occurred. you are going to say i'm not going to pay my bills unless you stop being stuff? well, then stop buying stuff so you don't have future bills but right now we have to pay the bills that have been incurred. >> shepard: the president said on saturday that he will not compromise over raising the debt ceiling. won't even put that on the table. shannon bream with the news live in washington this afternoon. how you is this strategy work out for republicans, shannon? >> shannon: the president says if they refuse everyone from business owners to average americans will suffer but republicans are calling his bluff saying the debt ceiling gives them leverage that will force democrats to get serious about spending cuts and entitlement reform. here is house republican jim jordan. >> let's do it for a change instead of saying oh, give us more revenue and we promise we will cut spending later. give us more borrowing authority and let us run up the credit card more. we promise we will cut -- this is lucy and charlie
and they raised the debt ceiling. they're a year behind. and you work for bill clinton. and i am an admirer of many of bill clinton's economic policies. bill clinton, gingrich, a handshake was a handshake. they said they cut spending, they cut spending. they said they'd reform welfare, they reformed welfare. these guys, it's like a floating crap game. i can't figure out who's on first and the money is going into which sewer. >> i do think ultimately it's not going to be the debt ceiling. that's one where congress almost by definition is going to lose. it's a poor place to have this discussion. it's going to happen in and around sequestration. and you made a point earlier about the fact why don't the republicans come up with a clear idea and clear frame. i think that applies to both democrats or republicans and i would submit the first side that does it in a clear big way that provides a bigger context and framing is going to be much stronger position. that's where the fight's going to take place. >> there is one clear deal i would make, larry, and i would recommend both sides to make. >> re
to fix the debt ceiling before the u.s. will default on some of the bills. >> how is that tough spot going over with repaub cans? -- republicans? >> not very well. thor those who pushed for the higher taxes during the fiscal cliff battle now want to focus on spending. they see raising the debt limit repeatedly is path of the problem. >> looks like the second term of obama will be an in your case term. i am not going to touk with you at all. >> we get to cut one dime nower>> congressman chris van holland said it is irresponsible not to pay bills that are due. after decades of military service two our country the former general can be found in civilian clothes but not necessarily by choice. stan me mccrystal going public for the first time that cut his tahrir short. >> 100 yearing ago the 27th man in the u.s. is in that house. presidential bieb brar reand materials. we will go back tore all of the t-shirts. [ male announcer ] coughequence™ #8. waking the baby. [ coughs ] [ baby crying ] ♪ [ male announcer ] robitussin® liquid formula soothes your throat on contact and the active i
on the debt ceiling. >> the issue here is whether or not america pays its bills. we are not a deadbeat nation. >> taking a stand on the one-month anniversary of the newtown massacre. the families speak out. >> this is a promise to turn the conversation into actions. things must change. this is the time. this is a promise we make to our precious children because each child, every human life, is filled with promise, and though we continue to be filled with unbearable pain, we choose love, belief, and hope instead of anger. >> calling them out. tough words from former secretary of state general colin powell for his fellow republicans on race. >> there's also a dark vein of intolerance many some parts of the party. >> the end of the longest war and the man president obama has nominated to wind it down coming up. retired general stanley mcchrystal on chuck hagel. the exit strategy from afghanistan and his own career. >>> plus, show stopper. president clinton he should the standing ovation with his surprise appearance on "lincoln" at the golden globes. >> in "lincoln" we see a man more interesting
'm doing the show in a hazmat suit so i don't get sick from bill. we are approaching the debt ceiling. do you think that congress can actually work together to get something done or is there another idea to avoided debt default? we're joined by "huffington post" reporter jennifer bendery. good morning. how are you? >> good morning. i'm good. >> peter: thanks for getting up and doing this with us. >> sure, sure, anything for bill. >> peter: for those who don't know, what the hell is the trillion dollar coin? what's this idea being floated around because when i first read it, i thought it was a joke. it turns out it's not. >> i thought the same thing. i thought it was a joke. it is kind of a joke but it turns out it has legal standing. the idea is pretty simple. essentially, if we -- if congress is unable to come up with a way to avoided hitting the debt ceiling, the idea is that basically we could mint a trillion dollar coin and give it to treasury and they could tuesday to pay off our -- to cover our debt obligations and then we wouldn't need to worry about the debt ceiling anymore. it so
center they say the u.s. will smack its head on the debt ceiling, as early as february 15th, five weeks or so from now unless congress raises the amount of money we're allowed to borrow. bill: what are the resolutions? stuart varney, host of "varney & company" on the fox business network. good morning, sir. give us the facts on the story. >> deja vu all over again. it is a new cliff. groundhog day all over again. this is debt ceiling cliff and approaching much faster than we previously thought, specifically around february 15th. the government can not borrow anymore money. the treasury is moving money around to make sure it can pay its bills. it runs out of the ability to pay all the bills right around february 15th according to this bipartisan group. at that point we run out of money and the government has to start prioritizing who it will pay and who it will not pay. bill: some in washington argue it is a head fake. it is a kind of a sexy headline. the u.s. government takes in tax receipts and that money will pay its bills. >> that's right. it is not true to say america defaults on fe
on hamas and iran. >>> with the ongoing standoff over the debt ceiling, the congressional budget office says the u.s. will only be able to pay bills until mid-february. measures may include invoking the 14th amendment which would theoretically allow the president to raise the borrowing limit without congressional approval. something the white house says it will not do and something the president believes he doesn't have the power to do. >>> yesterday paul krugman accused lawmakers of holding the country hostage. >> the debt ceiling is a fundamentally stupid but dangerous thing. we have congress that tells the president how much he must spend. tells him how much he's allowed to collect in taxes. he says there's a difference there. i have to borrow it. no, you can't borrow that. the whole debt ceiling thing itself is a crazy thing. it forces the president to do something illegal, either to defy congress on what it told him to spend or defy congress and borrow when it told him not to. >> krugman was one of the leading proponents of the trillion dollar coin idea which involved minting a pla
that the debt ceiling is not a license to spend more. it is about paying bills that congress has already agreed to. he likened it to stiffing the waiter at a nice restaurant after gorging on a meal. >> you don't go out to dinner, and then, you know, eat all you want, and then leave without paying the check. and if you do, you're breaking the law. >> u.s. hit the debt ceiling on december 31st. the treasury is using so-called extraordinary measures to put off any default on its obligations, probably until about the middle of february. by then, congress must raise the debt ceiling, otherwise the government can't pay all its bills. some congressional republicans apparently seriously considering risking a default on the ability of the u.s. to pay its loans or even a government shutdown in order to force the president and democrats to agree to spending cuts. but president obama said today that republicans will not collect any ransom in exchange for a deal that puts the u.s. government on a crash diet. we are not a deadbeat nation, he said, strong words from the president that are sure to provoke, alr
our bills. christine romans, what do we do about this? >> well, you have to raise the debt ceiling. by law congress can only spend so much money and rack up so much debt. we hit that ceiling on february 15th according to the policy center. on that day, the inflow into the treasury coffers, $9 billion. imagine this like your own checkbook. on that day you have $52 bill chron in bills due. >> we've got a big -- >> so break that down for me. in that set of bills, what's due that day? >> well, the biggest part of that committed spending is $30 billion interest on our debt. we have to pay the interest, or we are in default of our obligations. we borrow money every day just to run the country as it is. >> just look at that top picture you have about 30 billion would be the mortgage payment and all of those littler numbers would be the expenses. >> these are things that people wee lie on. it's a friday, it's payday, so federal salaries and ben felts. medicare and medicate, defense vendors going paid on the 15th. these are things that in theory, if you don't raise the debt ceiling, the gov
and republicans over the debt ceiling led the nation to the bryning of national default. standard and poors even lowered its rating on u.s. government bonds. today, president obama said any repeat performance would be, quote, irresponsible. >> if the goal is to make sure that we are being responsible about our debt and our deficit, if that's the conversation we're having, i'm happy to have that conversation. what i will not do is to have that negotiation with a gun at the head of the american people. >> brown: at the same time, the president rejected urgings by some democrats that he raised the debt ceiling on his own authority. republicans were quick to answer the chief executive's criticism. senate minority leader mitch mcconnell said in a statement the president and his allies need to get serious about spending and the debt limit debate is the perfect time for it. and speaker of the house john boehner said the consequences of failing to increase the debt ceiling are real but so too are the consequences of allowing our spending problem to go unresolved. the spending and debt issues took most o
raising the debt ceiling. the u.s. already reached its borrowing limit and could begin defaulting on government loans by late february or early march. i'm marianne rafferty. now, back to "geraldo at large." for all your latest headlines log on to fox news .com. braps decided by a judge who will listen to the evidence beginning on the 13th day of february. and he will make that decisiond based upon all of the evidenc that is being presented. >> give be the fact that the two alleged perpetrators the principal people involved werel members of the exhalted football team is isn't it fair to say that the case has been handled differently than if, say, they were members of the chess squad? >> i really don't think so. i know that allegation has been made but i have seen nothing is the investigation that we would have s handled this any differently. it would not have been any different no matter who it was. >> granted you still have someo interviews to conduct but it sounds from the tone that you have concluded there are two people perpetrators involveder and only two? >> in regard to >> i
the authority to raise the debt ceiling without congress? will he tried to? our handwriting expert is digitalis about the most talked-about signature. will it end up on our dollar bill? can you read that? >> from that fox business studios in new york city, it's "the willis report" with gerri willis ♪ gerri: as the debt ceiling showdown, members of the financial services round table now headed by former gop presidential candidate temple in tay are urging congress to raise the debt ceiling. failure to do so will cause a wire. will republicans caved? always great to have you on this show. what do you make of this? these and other business leaders of this country who are saying, you have to raise that debt ceiling. >> a little hypocritical. these business leaders of the same ones to say we have to do something about our enormous debt, and what will cause a wire to our nation's finances continuing to go around borrowing a trillion dollars year after year after year. the phony issue, people are saying if we don't pass the debt ceiling it's a default. that is off the table. the constitution prevents
, spoke on the necessity of raising the debt ceiling, that the u.s. has to pay the bills it's racked up or markets could go haywire causing a self-inflicted wound to the economy. is he exaggerating? what's the take on the remarks in reaction how the debt ceiling sorts itself out? >> i don't think he's exaggerating at all. we have these debates every year right now, and we have the better part of the last 20 years, but it seems like when it comes to the wire, we always find a way to raise the debt ceiling, get washington back to work again, and that is our expectation. the difficulty is that the uncertainty in washington is freezing the treasury mark and investors. >> okay. back to ben bernanke, commenting this afternoon, if he reassures wall street he plans to continue the bond buying for as long as it needs to happen to get unemployment back, to get the economy growing. do you think that will keep rates depressed or signals, yeah, you know, we don't need to continue with this as long as we had initially planned to. do you expect a sharp, a rise in rates in take it from there. curious t
the debt ceiling. it is its responsibility. congress has to pay the bills of the united states. that is an obligation that they assigned to themselves. >> a little evasive in your answer. are you trying to leave room or not -- >> there is no substitute for congress extending the borrowing authority of the united states. >> is there an option -- >> i think the only option is there is no backup plan. the only option is for congress to do its job. >> [inaudible] [laughter] >> i speculate about a lot of things, the but nothing needs to come to these kinds of, you know, speculative notions about how to deal with a problem that is easily resolved by congress doing its job. very simply coming back and having the discussion and conversation and negotiation and debate about how we can continue to bring down the debt in a way that is responsible and allows the economy to grow and protect the middle class to continue the 54 months of job creation that we have had during this recovery. that's the conversation and the debate and negotiation that is correct to have. that's the conversation a
term, or run up against a debt ceiling in and get a credit rating but not cut spending. in the and you have to pass bills that reform the entitlement programs. there is no substitute. lou: when i said just let it unfold, what i meant was sequestration, do as you well. i personally think the republicans signed up for an idiotic sequestration. they allowed the federal -- the defense budget to take up 50% instead of the 20% that it represents and the federal budget so it has a disproportionate burden on already. that was completely in ignoramus who came up without one. the second part of the steel, they go around preaching about where or to have to do, this, that, cut. just let it go. just let it go and see what happens. because americans don't really get it. all the republicans look like a bunch of stodgy orthodox camino, members of an orthodoxy here just simply cannot resist saying no. if that's your idea, mr. president, it's your deal. let it rip. >> well, i mean, if it were not for the consequences of letting this administration and the autopilot that we are on for spending representa
to a really economic crash. i am for raising the debt ceiling. i believe that we need to pay our bills. i have to pay my bills. if i do not pay my credit card bills, my credit rating goes down. my credit score goes down. and i pay more in interest in the future. i think it is very irresponsible of these tea party republicans to hold the country hostage. there are other issues that can be negotiated for spending and raising revenues and the debt ceiling should not be a part of it. host: ok, thank you for calling. here is the editorial cartoonist of the post. the idea of minting a single coin valued at $1 trillion. using that to increase the debt limit. a number of stories saying that basically, this is not going to happen. his is what is reclined -- this -- what ezra kline writes he points out that they will not mince a trillion dollar coin. if it did, the federal reserve would not accept it. at is in important point. the inclusion of the federal reserve is significant. the platinum coin idea to work, the fed would have to retreat it as a way to create currency. next call is bob from idaho, ind
with congress over raising the debt ceiling. the u.s. has reached borrowing limit it did so last week by late february or early march. the treasury department will run out of ways to cover its debt and could begin defaulting. the pentagon looking at a request from france for drone support. france wants the assistance as its military takes on al qaeda linked terrorists terrorists in. french troops drive back rebels take back control of big chunk of west african nation. turning now to the civil war raging in syria. international efforts to hold the syrian government responsible for war crimes now. more than 50 nations backing a plane conflict to the international criminal court. this as rebel forces and syrian troops battle for control of key territory outside of syria's capital damascus. the u.n. estimating now 60,000 people have conor powell has the latest russia announcing today it continues to support u.n. backed peace efforts but also undermining those efforts by saying that the removal of president assad from power cannot be a precondition to talks. this comes as rebels have taken control
to get rid of reoccurring debt ceiling votes. and on the issue of obama's white guy problem cybercity says yes bill. pote us has a gender and diversity problem. women are better negotiators. rhonda says always good to get up in san francisco to see the sexy ass michael tomasky on the tube. bill, have him on more often. >> bill: oh, my god. >> hey, ladies. >> why are we so surprised here? >> bill, you get this sometimes. >> bill: i was expecting her to say always nice to get up early in san francisco to see the sexy ass bill press. >> sexy ass michael tomasky. >> bill: she meant to say both. >> i'm not so sure. >> bill: now you know why we have you in. while we have your fan club here, can we say hello to beverly in chicago. >> caller: how you doing? >> bill: okay. >> caller: this is straight to mr. press. i was listening to joe scarborough yesterday morning for the first 30 minutes. >> bill: big mistake. >> caller: rambling on about the president having all white boys in his cabinet and no women. now i understand why he is saying it because all he's trying to do is get some -- [ bleep
the debt ceiling? it sounds logical. the debt ceiling is about spending that has already occurred. stop buying stuff so you do not have teacher bills. we have to pay the bills that have been incurred. if you want to say cut spending for what we do next, fine. you do not tie it the debt ceiling. >> should spending be tied to an increase on the debt limit? a tweet -- tom, arlington, texas, independent. caller: it is not so much what the government buys. it is how much the government pays for what they buys. . one common machine gun is $37 apiece. another is $47 apiece. i've thousand dollars apiece for assault rifles. maintenance cost of airplanes. who will pay that much money? host: how would you change things? caller: gets new vendors. more companies can manufacture stuff. nobody can build submarines for us other than general dynamics. they are building seven new destroyers at $7 billion apiece. host: what do you think about tying it to the limit in the debt limit increase? should we not increase the debt limit unless spending is curved? caller: yes, that would be prudent. >> cyndee wrig
. the debt ceiling has to do with paying off the bills that we've already incurred. we want to talk about future spending cuts and future deficit reduction. that's entirely separate conversation. in fact, democratic house leader nancy pelosi says the president should side step the fake fight altogether and vote the 14th amendment. we're back after the break. and invoke the 14th amendment. we're back after the break. now. (vo) she gets the comedians laughing and the thinkers thinking. >>ok, so there's wiggle room in the ten commandments, that's what you're saying. you would rather deal with ahmadinejad than me. >>absolutely. >> and so would mitt romney. (vo) she's joy behar. >>and the best part is that current will let me say anything. what the hell were they thinking? rogaine? well, i'll admit it. i was skeptical at first. but after awhile even my girlfriend noticed a difference. [ male announcer ] rogaine is proven to help stop hair loss. and for 85% of guys, it regrew hair. save up to 42% now at >> announcer: ladies and gentlemen, it's a "the stephanie m
get the u.s. government past the immediate stumbling block of the failure to raise the debt ceiling. that's a legal matter. as a political matter, i think it's basically a nonstarter because it seems comical and it seems ridiculous. >> bruce, you suggest an alternate strategy which is one bill clinton has talked about and colombia law professors do. which is the president should essentially say, i have the implicit authority to raise the debt ceiling without congress, correct? >> that's right. of course, i'm not a legal scholar, but i do oppose the existence of the debt limit. i even testified before the senate finance committee that we should get rid of it. i think it's a dreadful left over from ancient history that simply creates opportunities for hostage taking by congress, such as the one we're facing right now and our foreign policy, we don't negotiate with hostage takers for a very good reason and i think that we need to get rid of this debt limit. but i'm perfectly willing to go along with the trillion dollar coin, if that's what's necessary to prevent this hostage from being
money, and government would live within its means. neil: you would risk a debt ceiling? what do you do with that moment. >> i would not borrow any more money, we would stop paying our bills, a president who believes that the constitution means what is says would not get us into a situation where we run out of cash on the first day of february. that president will have enough money to pay the bills to the federal government, federal governme collects about $2 .7 trillion in revenue. .7 trillion in revenue. >> you can rob peter to pay [ male announcer ] at scottrade, you won't just find us online, you'll also find us in person, with dedicated support teams at over 500 branches nationwide. so when you call or visit, you can ask for a name you know. because personal service starts with a real person. [ rodger ] at scottrade, seven dollar trades are just the start. our support teams are nearby, ready to help. it's no wonder so many investors are saying... [ all ] i'm with scottrade. i took my son fishing every year. we had a great spot, not easy to find, but worth it. but with copd making i
would risk a debt ceiling? what do you do with that moment. >> i would not borrow any more money, we would stop paying our bills, a president who believes that the constitution means what is says would not get us into a situation where we run out of cash on the first day of february. that president will have enough money to pay the bills to the federal government, federal government collects about $2 .7 trillion in revenue. .7 trillion in revenue. >> you can rob peter to pay [beep] [indistinct chatter] [kids talking at once] [speaking foreign language] [heart beating] [heartbeat continues] [faint singing] [heartbeat, music playing louder] ♪ i'm feeling better since you know me ♪ ♪ i was a lonely soul, but that's the old me... ♪ announcer: this song was created with heartbeats of childr in need. find out how it can help frontline health workers bring hope to millions of children at neil: to hear nancy pelosi and scores of other democrats tell it over the weekend, they are just getting started with tax hikes this year, and president agrees, keep it planned
are not debts to which the debt ceiling applies. and the idea is to recognize if we don't have enough money to pay those day-to-day obligations that the federal government should issue ious to people. it would say we're very sorry, yes, we owe you money, can't pay you now, when we can, we will. and then the fun part of the idea is that instead of the treasury trying to raise money through a back door mechanism like the platinum coin people would take these ious and tell them at a small discount, and that gets cash to most people's hands and at the same time it is less of a constitutional front to the congress. >> jennifer: so the notion would be that the -- so everybody who is a contractor with the government who is owed some money would be given some kind of paper. they could take that paper to the bank, and the bank would somehow buy it on the assumption that the bank believes that this will be resolved at some point because of the history of the united states. so the question is ed this sort of hand -- this did happen in california. when people compare california i
: the president says he will not negotiate with republicans at all about raising the nation's debt ceiling. the feds predict we will not be able to pay our bills about two months from now. but some republicans say they are willing to let the government partially shut down if new spending cuts are not part of the deal. all of this just a week after the fiscal cliff fiasco. shannon bream in washington tonight. here we go again. what are we getting in the way of an inside look at the fiscal cliff talks? >> well, shep, in a wide ranging interview with the "wall street journal" house speaker john boehner talked about what really happened a couple weeks ago. quote one week several weeks ago the president said to me we don't have a spending problem. he said he was stunned and continued to press the point and said the president then told him quote i'm getting tired of hearing you say that boehner also says he will no longer do closed door one-on-one talks with mr. obama calling them futile. response to the boehner claims and so far shep we have not gotten one. >> we got tax increases on some ameri
the fiscal cliff deal represented progress but urged congress to raise the debt ceiling, saying it gives the government the ability to pay its existing bills. he said, we think we're getting some effect in lowering interest rates but saying it was still early yet. saying we have found it can be an effective tool but we'll continue to assess how effective and saying that could change over time. this comes in context of a debate on the federal reserve over the effectiveness of the additional quantitative easing and some concern about the negative impact. the felt, d, he said, has the ability to undo the policies before inflation becomes a problem. and then he was asked about the federal reserve enabling congress to spend a lot of money because it buys the government's debt, but he said it's not up to the fed to play games and tell congress what it should and should not be doing on its spending. and he added that the federal reserve has to follow its dual mandate. he was asked about question about his personal and he said, i try to get a lot of sleep and then, melissa, talking about social
of congress. this is a way around the debt ceiling if everything reaches a dead end there. is there an indication -- some people are saying carney in the briefing did not, you know, rule this out all the way. is there any indication this is on the white house's radar? >> doesn't seem to be. i mean, the white house isn't even open to the 14th amendment saying the president could raise the debt ceiling and indicates the president could raise the debt ceiling without the consent of congress. doesn't seem like they'd be open to something like this but covering it for three years, i really i guess i wouldn't be surprised if anything happened but this is not gaining real traction on capitol hill. and it's tough to say what kind of -- what this kind of -- what people are calling a gimmick means for the negotiations. republicans across the board blasted this idea and doesn't seem realistic especially as you said there's issues and not only debt ceiling, sequester and government funtding so if the president wants a deal on any of those, making a new coin to raise the debt ceiling p
, to the table when we have these other big issues like the debt ceiling to get him to talk about it. i wish he'd lead." >> reporter: i'm elizabeth corridan, reporting. >> president obama has signed a financial aid package for victims of superstorm sandy into law. the bill delegates more than 9-billion dollars to help the government pay flood insurance claims. a congressional vote on a larger. 50-billion dollar aid package is set for later this month. however. that bill is likely to face some tough scrutiny. as lawmakers look ahead to more battles over spending and debt. >> the president is also expected to nominate chuck hagel as the countries newest defense secretary tomorrow. the former republican senator from nebraska. and decorated vietnam war veteran. would to replace strong relationship during their time together in the senate. both men will likely face a lot of questions from congress. on where hagel stands on many key issues. >> when parking around san franciscoyou will now need to feed the meter seven days a week. today marks the first day of sunday parking enforcement in the city. kr
. we hit that debt ceiling and now it's about the debt limit. >> we hit it in technically in december but in order to keep paying the bills the government delayed some payments so it looks like we'll hit that ceiling or that limit again in mid february. congress has got to do something about that. the house is back today. republicans are going to push for spending cuts. remember their mantra has been no more borrowing without limiting what we're spending and among spending cuts they are likely to look at social security this time. >> there's also some trouble on capitol hill ahead of chuck hagel's confirmation hearing. >> the confirmation hearings we have coming up at least three of them. chuck hagel could be the most difficult because democrats and republicans here have some challenges and lots of questions for him. still they say about the stance on iran and things he said about iraq and israel and whether he stands close enough with israel as ally. the white house is confident he'll be confirmed. it's not going to be an easy process. >> one month since the school shooting at sandy
said he will not negotiate on raising the debt ceiling. here's what he said. >> i will not have another debate with this congress over whether or not they should pay the bills that they've already racked up through the laws that they passed. let me repeat. we can't not pay bills that we've already incurred. >> and here's the response he got the next day from republican senator pat toomey of pennsylvania. >> our opportunity here is on the debt ceiling. the president's made it very clear; he doesn't even want to have a discussion about it, because he knows this is where we have leverage. we republicans need to be willing to tolerate a temporary partial government shutdown, which is what that could mean, and insist that we get off the road to greece, because that's the road we're on right now. we only can solve this problem by getting spending under control and restructuring the entitlement programs. there is no tax solution to this. it's a spending solution. and if this president doesn't want to go there, we're going to have to force it and we're going to have to force it over the debt ce
, because right now i think the debt ceiling debate we are going to be having coming up in february is going to be even more rancorous than the one that we just that. republicans think they gave away taxation- > they are digging in their heels. > > and now they are going to get spending cuts, whereas the democrats are saying, "if you are going to get more spending cuts, you've got to give me more tax increases." so i think the end of february could be very interesting and very ugly for the markets. > the fiscal cliff of all mothers of fiscal cliff, or however you want to put it, it could be a lot worse. brent schutte from bmo harris. thanks so much. > > thank you. still ahead, the new year's top vacation destinations and deals. dominican republic, anyone? (woman) 3 days of walking to give a break cancer survivor a lifetime-- that's definitely a fair trade. whoo! you walk with friends, you meet new friends, and you keep those friendships. it was such a beautiful experience. (jessica lee) ♪ and it's beautiful ♪ undeniable (woman) why walk 60 miles in the boldest breast cancer event in hist
the bipartisan policy center saying the treasury department's going to run out of room on the debt ceiling earlier than we thought. february 15th, they say. that's the "x" date when we can't pay all of our bills, when we literally only have that date $9 billion coming in, and we have $52 billion in bills. imagine that in your own household. if you had $9 billion coming in and $52 million going out. when you look at it, it's staggering. i think we have a chart on the left. that's how much daily catch flow analysis, that means how much on the left, $9 billion is coming in. look at all the bills on the right we have to play, interest on the debt, $30 billion, we only are bringing in $9 billion a day on february 15th, but we have $30 billion in debt payments. how about irs refunds because it is, of course, tax season. federal salaries and benefits, $3.5 million, military active pay, medicare/medicaid, defense, food/hud/welfare/unemployment, other spending. that's how unbalanced it is. that's why they say we can't live like this anymore. the fight about how to get that in line is going to be ug
. this time of course it' over the debt ceiling. and it's going to be big, because it really reflects two different visions of what the debt ceiling is all about. for the president, you heard today, it's about paying your bill. going to a restaurant. picking up the tab for food you've already eaten. fine. >> very common sense, yes. >> very common sense. for republicans, it's about solving a problem. making a government that is too big, smaller and getting control of runaway spending on entitlements like social security and medicare and fixing a long-term problem. it's not just about paying the bills. it's about the future. >> right, but there are also a lot of political calculations in here. i assume they're very close to the political calculations we saw in the last crisis. >> yes, they are, although, you know, in the last crisis it was very clear that the president had the let me rverage. he had just won the election. he had won an election over the tax issue and the republicans lost over the tax issue. they're pushing that so far off the table that i don't even hear them talking about
last month. >>> the debt ceiling dispute is heating up. the white house says congress can pay its bills or it can fail to act and put the nation into default. some reports suggest the government could run out of cash to pay all its bills as early as mid february. >> thanks for that. there's plenty to keep you entertained on our website. singapore is trying to cool a property market and find out if the city stands a chance. goldman sachs says it may delay tax et in the uk. >>> and after much confusion now in the last year, it remains amsterdam, at least, can enjoy watching the television. >>> comments between surrounding alarms. although i think it's been overplayed. we'll talk to that when we come back. >> with hotwire's low prices, i can afford to visit chicago for my first big race and l.a. for my best friend's wedding. because when hotels have unsold rooms, they use hotwire to fill them. so i got my hotels for half-price! >> men: ♪ h-o-t-w-i-r-e ♪ ♪ ♪ ♪ [ male announcer ] some day, your life will flash before your eyes. ♪ make it worth watching. ♪ the new 20
the debt ceiling about to get a bit more dismal. the white house has no plan b in the debt fight, challenging republicans to allow them to bore row more money or allow the country to default on its loans. 16 trillion in debt. getting higher by the clock. senator mike lee has a vote on this from utah. thank you for coming here. no backup plan according to the white house. in addition the treasury department says there is no plan b. what do you think about that? >> well, that's a problem. too often in washington we're faced between kind of a false choice. we're presented with a choice that says, okay, you either take no cuts at all and raise the debt limit, or you raise the debt limit with the promise of kits that may never transpire and that kind of cut simply won't cut it anymore. hard-working americans deserve better than this and all the programs they rely on are placed in jeopardy by reflexively raising the debt limit without putting in place permanent structural reform. bill: what do you think will happen? sometime about mid-february we start to see you guess something develo
? wonder you you never wanted to grant president bush? >> well, i have always voted to raise the debt ceiling. in congress, those of us in the congress, granted him his wish. we never tried to deny him the ability to pay our bills. i want to do it now because this congress, at least this house of representatives would like to see is the default on our obligations. that is why i think the president ought to do it himself. if congress refuses to do so. neil: i don't know about you, you are in this camp, many of your colleagues when president bush was around, they were on the brink a number of times arguing about what he was doing. bringing us ultimately to default. isn't the issue what brings us to this point time and again? fifty some odd time since world war ii? if the underlying spending. it seems like you guys are going through hoops to avoid the underlying problem. and that problem is spending. >> spending may be a problem. but what do we spend the money on? we spend this money to fund two wars that we never paid for. we have never knock on the war and made sacrifices tax wise or o
there is fundamental disagreement about what it would mean not to just have a clean raising of the debt ceiling. so, in other words, if i heard the congresswoman correctly, i think she was reflecting a sense among some people that you could shut down the government, stop paying some bills, pay other bills, pay interest on the debt, for instance, and we could kind of get through it that way. i think a lot of -- a lot of other republicans, a lot of conservatives, and almost all democrats think you can't do that. you can't fool around with this. you've got to do this clean. and i suspect boehner may feel that way and part of what might be happening here is a real factual argument about what will happen, you know, if we play this game, if we -- to use a metaphor the democrats like, if we shoot this hostage or at least wound the hostage. to some degree they're going to have to agree on the basic facts and what kind of game they're playing here. >> is that part of the complication here? is it really that, ed, we don't even have a ground rules yet. >> we don't. and i think that's what part of this meeting
to take a listen to the president's spokesperson this week on the debt ceiling, get your reaction to that. >> sure. >> he will not negotiate with congress when it comes to the essential responsibility of congress to pay the bills that congress has incurred. >> what do you think? >> well, it's an interesting question. how does he not negotiate with congress, if congress won't raise it, if it the president doesn't do something like cut spending? so it's kind of an awkward sort of situation. and i think the troubling aspect for the markets, you basically have two immovable objects here. republicans who say we won't raise the debt ceiling if you don't cut spending and a president who says, first of all, i'm not going to cut spending unless you also raise taxes and i'm not going to negotiate on the debt ceiling. i think if past is prologue, i don't think the markets or the private sector for that matter is going to pay attention to this until the last minute, the first few weeks of february. >> do you think we'll see spending cuts, and by the way, do you think we'll see even higher taxes, greg
timothy geithner can use to extend the debt ceiling by the way the u.s. government can extend it in the past is simply not pay its bills. so any sort of cash reserves you'll have to replenish later. whether february 15th is the absolute deadline and whether the treasury department can squeeze it further i think it can probably get to the end of the month of february. >> what's the real significance of this event for the global economy? >> well, the worst scenario, of course, would be that everything koms comes grind to go a halt, the u.s. government acan't pay its bills because congress cannot agree on a deal and all this process takes place as it was in the battle between clinton and the republican congress way back. we're not going to get that scenario. for one big reason, we have a sequestration policy in place. and, therefore, the debt ceiling can probably, on that basis if nothing is congress, congress will agree to raise debt ceiling on the sequestration. but that is a messy solution. what we need is an agreement between congress and the president over the long-term, bot
the message of the fact that the government is going to be shut down, the debt ceiling issue is going to be a problem, we're not going to pay our bills and we're going to potentially have more damage to our credit rating? no. that's not my point. absurd that any republican or anybody united states absolutely right. off of the a, how we create the millions of jobs that this country desperately needs. by the way, thomas, when you create jobs and create taxpayers and people are contributing revenue, then your deficit is going to go down. deal is fair. the backs of people who hurting. doesn't pay a nickel in federal income taxes. that's wrong. >> independent senator bernie sanders from vermont. sir, as always, great to have you on. thank you for your time. >> thank you. >>> apology not accepted. the log cabin republicans taking out this full page ad "new york times" in the last month. also an ad in the "washington post." opposing a potential chuck hagel nomination as defense secretary. why they still say he's wrong on gay rights. >>> happening right now, a preliminary hearing for james ho
on iran and israel for him as those hearings come up and then finally the debt ceiling. we pushed it off. we hit it in december. didn't pay a few bills to push that off until february. now as the house resumes today, congress must make some decisions. republicans will push for more spending cuts. this time we're told including social security. so a big agenda this week. >> all right. we'll see how it goes. thank you very much, tracie. >>> new this morning, japan airlines has grounded one of its boeing 787 dreamliners. the airline says it found a fuel leak during an inspection outside of tokyo yesterday. it is reportedly the same aircraft that had a fuel leak in boston last week. now it is the latest trouble surrounding the boeing 787. friday the u.s. government launched an investigation into the recent problems with that plane. >>> after spending more than a month in the hospital, former president george h.w. bush may get to leave as early as today. bush's son, former florida governor jeb bush, said his father is expected to be released from the hospital on monday. h.w. was first admitte
, fine. but don't tie it to the debt ceiling." >> "a big part of balancing this budget is in fact getting people back to work. that balances us twice, so that's another big piece of it." >> reporter: president obama has said he will not negotiate with congress on whether they should pay their bills. some republicans are now criticizing his fiscal leadership. >> "what's really disappointing to me is that the president isn't generating the discussion on his own, that he has to sort of be dragged kicking and scream, to the table when we have these other big issues like the debt ceiling to get him to talk about it. i wish he'd lead." >> reporter: i'm elizabeth corridan, reporting. >> we started with showers but now, clear. as we go for it the night tonight it transition's over to clear conditions. transitioning again to cloudy conditions tonight. we have a weather system that is moving into the bay area. the rainfall will stay well to the north. clouds in the morning and sunshine for the afternoon we have some pretty nice systems. sunshine and warmer temperatures with low mid- 60s. here is th
and the theretos from the fiscal debate, the u.s. economy is not out of the woods yet. raising the debt ceiling, he said, gives the opportunity to spend now. like a family trying to raise its credit rating not deciding to pay bills. we think we're getting some effect in lowering interest rates but it's still early yet to tell. we have found qe to be an effective tool. we will continue to assess how effective. just before you came to me he was asked one of the criticisms. aren't the fed quantitative policies overspending by congress. the chairman saying it's not the fed's job to play games and make congress do what it should be doing on its own. >> he keeps saying this in so many words. you'd think people would get it at this point. thank you so much. >> you would think, yeah. >> steve leisman. president obama telling republicans to move quickly on the debt ceiling. jon harwood on the president's main theme at his news conference today. >> his main theme was to draw a brighter line with republicans in that fight over the debt ceiling. republicans saying we want dollar for dollar spending cuts. the p
. in the previous debt ceiling debates, the fed worked together to come up with a payment plan with the fed to prioritize how to use the money that the government had on hand. but i talked to several former fed officials about those prior debt ceiling showdowns. they tell me the fed internally resolved not to fund the treasury if it ran out of money. so that's another idea out the window. and guys, what's interesting here, is that even if we hit the debt ceiling, the government, as long as there's appropriations, will continue to gather up bills. and there are all kinds of legal statutes about if the government doesn't make a payment, and interest on those bills, and everything so that doesn't solve it. only when the appropriations run out and there's a second kind of debt ceiling showdown moment, which is the end of march when the continuing resolution runs out, and that's when they'll shut the government down and the government will stop incurring costs. so as long as there's appropriations, the government will continue to spend, and only shutting down the government stops the spending, a
the bills. but republicans seem to think the debt ceiling is a good tool to limit how much the government spends. the current ceiling was officially hit on december 31st, but like last time, the u.s. treasury is using extraordinary measures to get through until about mid or late february. if congress doesn't act by then, government may not be able to pay some of its bills, as simple as that. rush, i hope you're taking notes. that's it for me. i'm out. same time tomorrow. you know it can be hard to breathe, and how that feels. copd includes chronic bronchitis and emphysema. spiriva helps control my copd symptoms by keeping my airways open for 24 hours. plus, it reduces copd flare-ups. spiriva is the only once-daily inhaled copd maintenance treatment that does both. spiriva handihaler tiotropium bromide inhalation powder does not replace fast-acting inhalers for sudden symptoms. tell your doctor if you have kidney problems, glaucoma, trouble urinating, or an enlarged prostate. these may worsen with spiriva. discuss all medicines you take, even eye drops. stop taking spiriva and seek immedia
. >>> some bloggers are online and they believe they have the answer to the nation's debt ceiling crisis that the treasury should simply mean a $1 trillion platinum coin. keep it in reserve, then use the money to pay bills. others say it is not realistic as far as being approached to the solution. you may have seen her and her sister marianne around becoming local staples after moving to the bay area from michigan more than four decades ago. they are unmistakable. that's after they fell ill in july. vivian brown would have turned 86 later this month. >>> and brushing your pet's teeth may seem like a difficult task. up next why it is important, much more important than what you think. >>> a surprise for the fast food drivers. no driver to be found. we'll be right back. >>> we've got a forecast that will bring a chill to your heart and to have everything else quite frankly with a freeze warning that will be posted to the bay area. it will be cold this morning and cold tonight. but the daytime, before you get a beautiful saturday. we'll have the forecast
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